Use Table 12-1 from Your Text to Calculate the Future

question 84

Short Answer

Use Table 12-1 from your text to calculate the future value of the ordinary annuity, rounding to the nearest cent: $$\begin{array} { l l l l l l } \text { Annuity } & \text { Payment } & \text { Time } & \text { Nominal } & \text { Interest } & \text { Future Value of } \\\text { Payments } & \text { Frequency } & \text { Period } & \underline { \text { Rate } } & \text { Compounded } & \text { the Annuity } \\\$ 220 & \text { every month } & 3 \text { years } & 18 \% & \text { monthly } &\end{array}$$

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Definitions:

Isotope

Variants of a particular chemical element which differ in neutron number, and consequently in nucleon number, but have the same number of protons in their nuclei.

Protons

Positively charged subatomic particles found in the nucleus of an atom, defining the element's atomic number.

Osmium

A dense, hard, bluish-white transition metal in the platinum group that is the most dense naturally occurring element.

Isotope

A variant of a particular chemical element which differs in neutron number, though it shares the same number of protons.